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Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

borrowing rate

    58the interest rate expressed as a fixed or variable percentage applied on an annual basis to the amount of credit drawn down.

    [Note: article 4(16) of the MCD and article 3(j) of the Consumer Credit Directive]